Global-e Online (NASDAQ:GLBE) Stock Rating Lowered by Zacks Research

Global-e Online (NASDAQ:GLBE – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Citigroup restated a “market outperform” rating on shares of Global-e Online in a research report on Thursday, August 13th. Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research note on Thursday, August 13th. BMO Capital Markets upped their price target on Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Global-e Online from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

View Our Latest Stock Analysis on Global-e Online

Global-e Online Stock Down 0.1%

NASDAQ:GLBE opened at $39.00 on Monday. Global-e Online has a 12-month low of $26.84 and a 12-month high of $43.99. The firm has a market capitalization of $6.62 billion, a P/E ratio of 45.35 and a beta of 0.98. The stock’s fifty day simple moving average is $39.51 and its 200-day simple moving average is $35.43.

Global-e Online (NASDAQ:GLBE – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The business had revenue of $299.00 million during the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. As a group, equities research analysts expect that Global-e Online will post 1.32 earnings per share for the current year.

Insider Transactions at Global-e Online

In related news, CEO Amir Schlachet sold 100,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the sale, the chief executive officer owned 3,965,422 shares in the company, valued at $167,340,808.40. This represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Shahar Tamari sold 24,999 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the completion of the sale, the chief operating officer owned 3,856,689 shares of the company’s stock, valued at approximately $160,553,963.07. This represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 658,319 shares of company stock valued at $26,838,705 over the last three months. 11.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new position in shares of Global-e Online in the 1st quarter valued at approximately $1,144,000. Keenan Capital LLC increased its stake in Global-e Online by 4.8% during the 2nd quarter. Keenan Capital LLC now owns 1,955,262 shares of the company’s stock worth $67,906,000 after purchasing an additional 90,000 shares in the last quarter. Wasatch Advisors LP raised its holdings in Global-e Online by 28.1% during the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after buying an additional 1,816,606 shares during the period. Handelsbanken Fonder AB raised its holdings in Global-e Online by 38.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 174,989 shares of the company’s stock worth $6,077,000 after buying an additional 48,145 shares during the period. Finally, Summit Creek Advisors LLC bought a new position in Global-e Online in the second quarter valued at approximately $5,974,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Company Profile

(Get Free Report)

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company’s services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.

Further Reading

Analyst Recommendations for Global-e Online (NASDAQ:GLBE)

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